Claro Advisors LLC Has $433,000 Stake in Deere & Company (NYSE:DE)

Claro Advisors LLC lifted its stake in Deere & Company (NYSE:DE) by 28.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160 shares of the industrial products company’s stock after purchasing an additional 258 shares during the period. Claro Advisors LLC’s holdings in Deere & Company were worth $433,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC boosted its stake in Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the period. Norges Bank bought a new position in shares of Deere & Company in the 4th quarter worth $1,248,036,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 11.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In related news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DE shares. TD Cowen raised their target price on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. DA Davidson reduced their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Raymond James initiated coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Morgan Stanley reduced their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $414.11.

Deere & Company Stock Up 1.0 %

Shares of DE stock opened at $385.74 on Monday. The firm’s fifty day moving average price is $367.94 and its two-hundred day moving average price is $379.78. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1 year low of $340.20 and a 1 year high of $423.35. The firm has a market capitalization of $106.30 billion, a P/E ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.